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clock Created with Sketch. 18/03/16
11:03
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Originally posted by Muss24au
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How can they issue a new option code if they have not had approval, by Shareholders, to issue new options? Unfortunately, as much as you may hope some things just cannot be done by wishing for it to be done, there are steps that need to be taken! As I said at this stage there does not seem to be any steps in place to do this. Why does the Company have to extend a lifeline? The options were purchased knowing that if they were not in the money by 30 June 2016, they would lapse of have to be converted. Despite the endless rhetoric on here over the last 12 months or so about the untold wealth to be made from buying the options they are not a risk free investment and perhaps not for the lighthearted. Also you don't seem to understand that this is a speculative exploration company and like all other companies in the same area they need cash, and lots of it, to survive, you fail to realise that if they do not undertake CR's the Company will become insolvent and be liquidated and Shareholders will lose all their money! I bet when you given the opportunity to partake in the rights issue last year, which would have given money direct to the Company not just to day traders or fleeing shareholders, you did not! I guess the other option is for them not to do any more CR's and lets see what you would have to discuss then.
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Geez muss, I was speaking in terms of them offering the proposal to Sh's for approval. I clearly didn't mean they just click their fingers and make it happen tomorrow.
